Business News

Disney's bid for Fox assets gains momentum: sources

(Reuters) - Walt Disney Co (DIS.N) is in the lead to acquire much of Twenty-First Century Fox Inc’s (FOXA.O) media empire, though rival suitor Comcast Corp (CMCSA.O) remains in contention, people familiar with the matter said on Tuesday. The Murdoch family, which controls Fox, prefers a deal with Disney because it would rather be paid in Disney than Comcast stock, and expects a potential deal with Disney to be cle...

05 Dec 5:50 PM 0 Read More...

Wells Fargo CEO sees better commercial loan results in fourth quarter

(Reuters) - Wells Fargo & Co will likely see improvement in its business lending segment when it reports fourth-quarter earnings in January, Chief Executive Officer Tim Sloan said at an investor presentation on Tuesday. Commercial lending was a weak spot for the U.S. lender when it reported third-quarter results in October, with balances falling by more than $5 billion compared to the prior period. Sloan said th...

05 Dec 5:50 PM 0 Read More...

Nasdaq futures fall as tech selloff continues

(Reuters) - Nasdaq futures were lower on Tuesday as selloff in tech stocks continued, while the Dow was higher as investors looked to profit from stocks that would benefit from potential corporate tax cuts. The Senate approved its version of tax code overhaul in a 51-49 vote over the weekend. Talks will begin likely next week between the Senate and the House, which had approved its own version of the legislation. On...

05 Dec 12:46 PM 0 Read More...

China's budding coffee culture propels Starbucks, attracts rivals

SHANGHAI/LOS ANGELES (Reuters) - In Wu Qiong’s small cafe in downtown Shanghai, coffee beans nestle in glass jars on the bar while various brews bubble away behind the counter. The cafe - one of thousands of trendy, artisan coffee shops in the city - reflects a growing cafe culture in China that’s driving growth for chains like Starbucks Corp (SBUX.O) and attracting more competition. “There are many more choice...

05 Dec 12:46 PM 0 Read More...

Ford ramps up electric vehicle push in China amid slowing sales

SHANGHAI (Reuters) - Ford Motor Co (F.N) will launch 50 new vehicles in China by 2025, including 15 electrified vehicles, the U.S. firm said at an event in Shanghai on Tuesday, as it looks to rev up sales growth in the market and shift towards cleaner electric cars. Ford’s sales in China have been weak in recent months, and the company is scrambling to come up with electric and hybrid vehicles to comply with strict...

05 Dec 12:46 PM 0 Read More...

Thyssenkrupp chairman rejects investor call for breakup: Handelsblatt

BERLIN (Reuters) - Thyssenkrupp (TKAG.DE) Chairman Ulrich Lehner has rejected investor calls to break up the industrial group and backed top management’s plan to transform the firm into a technology group, Germany’s Handelsblatt reported, citing an interview. “Breaking up the group is not at all an issue,” Lehner was quoted as saying by the business daily in an interview published on Tuesday. Chief Executive ...

05 Dec 12:46 PM 0 Read More...

Asian shares down as tech blues offset U.S. tax cut optimism

TOKYO (Reuters) - Asian shares dipped slightly on Tuesday as investors’ rotation out of technology shares took a toll on some of the region’s tech heavyweights although hopes of a major tax cut in the United States underpinned risk sentiment. European shares are seen steady, with spread-betters picking Britain's FTSE .FTSE and Germany's DAX .GDAXI to be almost flat and France's CAC .FCHI to edge 0.1 percent lower...

05 Dec 7:42 AM 0 Read More...

Asian shares subdued as tech blues offset U.S. tax cut hopes

TOKYO (Reuters) - Asian shares were subdued on Tuesday as investors’ rotation out of technology shares took the toll on some of the region’s tech heavyweights although hopes of a major tax cut in the United States underpinned risk sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS were capped by the fall in the region’s technology shares, with Samsung Electronics (005930.KS) l...

05 Dec 2:34 AM 0 Read More...

CVS, Aetna executives defend $69 billion deal to skeptical Wall Street

NEW YORK (Reuters) - CVS Health Corp and Aetna Inc on Monday said their $69 billion deal to combine the pharmacy and drug benefit manager and the No. 3 U.S. health insurer would transform healthcare and deliver cost savings, but investors took a pessimistic view of the combination in the short term. CVS and Aetna announced on Sunday that they had reached an agreement for a deal that will allow CVS to expand cheaper m...

04 Dec 9:30 PM 0 Read More...

S&P, Nasdaq end lower as Wall Street sells the tax news

NEW YORK (Reuters) - Wall Street ended mixed on Monday, with banks and retailers surging and technology companies tanking as investors adjusted their portfolios in hopes of benefiting from expected corporate tax cuts. The Dow Jones Industrial Average .DJI rose 58.46 points, or 0.24 percent, to 24,290.05, the S&P 500 .SPX lost 2.78 points, or 0.11 percent, to 2,639.44 and the Nasdaq Composite .IXIC dropped 72.22 p...

04 Dec 9:29 PM 0 Read More...